Potential mortgage fraud

[RBush22]

Hi all

My partner took out a mortgage of 700k almost 2 years ago and it was approved. However, things are getting bitter between us and I know that to get the mortgage approved, he provided evidence of income that was not genuine.

Can I go to the bank now and ask them to look into it? I don't think I can progress with the relationship with this doubt in my mind that he committed fraud.

You either know or have a doubt in your mind. I think if this is what determines whether you will continue in a relationship or not then just finish the relationship.

I’m not convinced the bank will be remotely interested. I’m assuming he’s been paying the mortgage for the last 2 years?

If you don’t like your partner, leave.

If you were really that unhappy about him committing fraud, you would have reported him when you first discovered it.

We have children so it's not as simple as just walking out sadly. Any decision I make has to be thought through. But if there is fraud, I need evidence rather than just a suspicion.

Could be handy to have evidence of him having a very high income for child maintenance, though. It's not your fault if he's inflated it artificially/fraudulently for other reasons.

Yes I didn't want to make an issue of it back then as I wanted to stay in the relationship for the kids. His finances are even worse now, and if there is evidence of fraud, it's a complete picture.

If 'things are getting bitter' then I'm guessing a massaged mortgage application is probably some way down the list of issues.

So you want you all to lose your home?

Sadly the mortgage didn't go on our home - he used it to gamble.

He’s gambled £700k?

Yes - it's all gone.

What good will it do now?

Like a pp said, it's possible that no one will be interested.

However. If they are interested and the bank report to the police and decide to pursue it, this is the worst case scenario...

• A near immediate demand for full repayment of the mortgage.
• Report made to CIFAS meaning your partner will be unable to remortgage elsewhere.
• After the demand expires, commencement of repossession proceedings.
• Repossession of the property.
• Criminal proceedings, possibly with a stay at His Majesty's pleasure.

This is unlikely and absolute worse case scenario - but it DOES happen and IS possible.

Where would you and your dc be with a repossessed house and not even any maintenance as he's in prison?

Doesn't seem like a particularly sensible course of action to me.

If you're separating, and married, you need his finances to look healthy because assets are divided based on the need for housing and ability to earn. If you're not married, you take away what you brought to the relationship, and should your property be jointly owned you work.out whether it needs to be sold or can one of you do a buyout of the other. Unmarried women who split are only entitled to child maintenance and their own assets. Don't do anything rash!

But the bank sends funds to a solicitor who sends funds to another solicitor - I don't understand how he ended up with the mortgage funds in his pocket?

Blimey. What will you gain by reporting it?

Is your name on the house deeds or mortgage at all?

Cross posted

The gambling changes everything
You need legal advice

How did he not use on the home? You mean it was for refurb ?
If you are a joint owner pf the property or you have an interest in the property then absolutely you need to report it. But the issue is the money was not spent on the house rather than the fraud on the original application.
He will most likely go bankrupt so think though implications on you as a result

What a fucking knob! Fancy gambling £700k meant for your house.

Anyway, reporting him might mean he has to pay the money back and if he doesn't have the money to pay back it might mean prison. So yes, report his dumb ass, at least he won't be able to gamble in prison.

We rent at the moment and aren't married - I had always wanted to buy - but he has blown the mortgage he got on gambling. By reporting it, I get the opportunity of highlighting his pattern of financial dishonesty and irresponsibility. All our finances are separate, and I pay for most of the children expenses.

OP you don't say how he managed to get his hands on the mortgage money? Surely as a PP said, the bank released the funds to the solicitor?

How did he get the mortgage money if he didn’t buy a property? The bank doesn’t just transfer you the money.

We rent at the moment and aren't married - I had always wanted to buy - but he has blown the mortgage he got on gambling

So where is the house on which this £700k mortgage is secured?

Yes he gambled the whole lot, and now tells me he has no money to pay nursery fees. Yes bankruptcy is on my mind hence the real concern and now interest in his mortgage application and the lies he has told there to get a mortgage.

He owns a flat worth £1 million so it's secured against that plus evidence of income that was not genuine.

Through an application to a high street bank. Yes I believe solicitors would be involved but they didn't pick up on the illegitimate evidence of income?